The latest index of leading indicators from the University of San Diego shows continued gains by the region’s economy, with prospects for solid growth through 2015.
The university’s Burnham-Moores Center for Real Estate reported Wednesday that the index rose 0.6 percent in October. October’s gain was the fifth consecutive one for the index and “signals continued solid growth in the local economy at least through the end of 2015,” according to the report.
“Strong gains in initial claims for unemployment insurance and the outlook for the national economy offset a sharp dropped in building permits,” the center said in its report. “Consumer confidence and help wanted advertising were up moderately while there was only a slight increase in local stock prices.
Other positive developments are lower gas prices and an increase in the California minimum wage.
“The improving labor market should give consumers the confidence to spend that extra money,” the center concluded.
